2024-06-17 04:30:49 ET
Summary
- W&T briefly fell below $2 on Friday, its lowest level since November 2020.
- The oil prices and the company's fundamentals are significantly better now compared to the pandemic period.
- The selloff appears related to institutional capital outflows driven by factor rotation, not W&T's fundamentals.
- The value proposition is already quite good but there is no technical "floor" in sight until the pandemic lows of $1.40 - $1.50.
Read the full article on Seeking Alpha
For further details see:
W&T Offshore: The $1 Handle Is A Good Entry Zone But Capital Outflow Risks Remain